Top 10 Fintech Startup In India

paytm and fintech app by digital thakur

Any organization that connects to or utilizes financial services through the internet, mobile devices, cloud services, or software technology is referred to as using Fintech or financial technology. What happened to the money you used Paytm to send to your friend? Do you remember that PayPal payment you made during your online shopping binge? When was the last time you completed work on your smartphone, so you didn’t have to wait in a long queue at the bank? Are those stocks you bought utilizing essential smartphone apps like Upstox on the market? Fintech has returned.

Using a single app, fintech users may manage their finances, trade cryptocurrencies, get loans, and invest in global organizations. In fact, in the majority of situations, AI-powered fintech software can beat traditional financial institutions.

We no longer have to cope with the inconveniences of the traditional system thanks to Fintech, which has made dealing with financial services much more convenient.

Financial technology services are available, from corporate finances to personal finances. Private businesses can compete with well-established financial services by concentrating on specialized areas of the financial industry.

Thus, this article will talk about the top 10 fintech start-ups in India. So, let’s dive through the post.

1. ZestMoney

As the most significant and fastest-growing consumer lending fintech firm in India, ZestMoney was founded in 2015. In addition to other investors in the digital financial services industry, PayU, Ribbit Capital, and Omidyar Network support the company that Lizzie Chapman, Priya Sharma, and Ashish Anantharaman created. Due to a lack of credit history, more than 300 million families in the nation cannot use credit cards or other formal financing options. Digital EMI is used to its advantage by ZestMoney. The business thinks everyone should be able to pay in EMIs, not only those with credit cards or good credit.

Millions of Indian clients now have access to ZestMoney because of mobile technology, digital banking, and artificial intelligence. When using Zest, you may make a purchase immediately and pay it off over 30, 3, or 4 months. You get to decide what suits you the most. More than 10,000 online and 75,000 physical retailers accept Zest thanks to a straightforward three-step acceptance process.

2. Paytm

One of India’s first and most well-known mobile payment and financial services companies is Paytm (short for “pay through mobile”). It was established in 2000 by Vijay Shekhar Sharma, the company’s MD and CEO.

Customers and companies may use Paytm’s payment, banking, lending, and insurance services. Using the Paytm QR Code, Paytm enables in-store purchases at grocery stores, restaurants, parking, tolls, pharmacies, and educational institutions, as well as online transactions like smartphone recharges, utility bill payments, travel, movie, and event reservations. Additionally, it provides loan disbursement services and supports small-business transactions.

After India’s largest IPO at the time, One97 Communications Limited (OCL), the company’s parent, was listed on the Indian stock exchanges on November 18, 2021.

3. BharatPe

Popular mobile wallet BharatPe, which a bank partially owns, aims to get businesses to switch from current accounts to its payment service. The second-most used consumer wallet in India, Google Pay from Alphabet Inc., is now pushing fixed deposits.

In addition to these brand-new financial services, the Indian government has taken steps to promote foreign investment in the Fintech industry. Since 2016, the RBI has loosened the restrictions on international direct investment (FDI) in the banking sector, making it easier for companies to draw in foreign capital.

Financial service businesses may now attract foreign capital thanks to the new legislation. Agritech companies are a great example of the latter. Their products help farmers boost revenue and shorten inventory cycles.

4. Cashfree Payments

Bangalore-based Cashfree Payments was established in 2015 and specializes in payment and banking technologies. It provides a complete payment platform that helps companies collect and transmit money, including payment collections, vendor payouts, salary payouts, quick loan disbursements, e-commerce refunds, insurance claims processing, expenditure reimbursements, loyalty and incentive payments.

Annually, Cashfree Payments processes over $20 billion in payments for over 100,000 merchants, including Cred, Zomato, Xiaomi, and Tencent. The business is active in eight nations: the US, Canada, and the United Arab Emirates (UAE).

Cashfree Payments was given strategic support from the State Bank of India and valued at $200 million. According to the company, the profits will be utilized to increase its payments infrastructure and make development investments.

5. Pine Labs

Lokvir Kapoor, Rajul Garg, and Tarun Upadhyay formed Pinelabs in 1998. The company provides financial and last-mile retail transaction solutions. Its corporate headquarters are in Noida.

Pine Labs provides both point-of-sale software and a merchant platform. Its goal is to provide a platform for goods and services that will benefit businesses in each local market it serves by enhancing access and accelerating commerce.

Pine Labs works with more than 70,000 merchants in India, including well-known retailers like Pantaloons, Marks & Spencer Retail, Westside, and Shoppers Stop. The company is present in Malaysia and other Asian nations, and India. It is a unicorn firm with a more than $5 billion valuation.


A fintech company called LENDINGKART Finance Limited (formerly Aadri Infin Limited) offers SME loans in India. The company has created technology solutions based on extensive data analysis to make it simpler for lenders to evaluate individuals’ creditworthiness. Additionally, it offers related services. The firm hopes to revolutionize small business lending by making loans to SMEs easy to get.

The company employs technology and analytics solutions to quickly and effectively assess the creditworthiness of small businesses by analyzing millions of data points from various sources. Unlike banks and other NBFCs, Lendingkart Finance Limited does not base its assessment of a potential client’s credit risk profile on the vendor’s prior performance (Past Financial Statements & Income Tax Returns). The client’s current-year cash flows and business growth are the NBFCs main priorities. The purpose of capital funding is to free up entrepreneurs’ minds from cash flow concerns so they can concentrate on growing their businesses.

7. Instamojo

A full-stack transactional platform called Instamojo was created to assist small businesses in going online. The company was the first to provide India payment links. It provides a straightforward payment system that enables businesses to accept payments online.

In addition to payments, they provide sellers with a suite of tools and services that enable them to set up an online store, learn about their store’s performance, and use that information to grow their businesses.

They assert that they are well on becoming a “Growth Gateway” that will put every company in their ecosystem on a fast-track growth route by offering significant connections, valuable tools and services, and pertinent information. They now have over 500,000 sellers on their site.

8. Mintoak

If you’re looking for a Fintech company, Mintoak is among the finest in India. A single transaction report is generated by Mintoak, a white-label merchant payment platform that enables businesses to accept all types of digital payments, including cards and cash. Merchants can focus on their main strengths as a result. Mintoak partners with the SBI and HDFC Bank Ltd. to make money and receives subscription fees and a cut of the sales of the banks’ goods. The company is 5.2% owned by HDFC Bank.

While conventional banks did not accept smartphone payments, Fintech companies in India seized the opportunity to challenge the deposit-taking operations of well-established financial institutions.

9. Smallcase

Smallcase, a health tech company headquartered in Bangalore and formed in 2015, provides an online trading platform. Over 100 equity and ETF portfolios are offered to consumers by the company’s team of certified professionals (ETFs). Independent investment managers, brokerage houses, and wealth management systems are available.

Twelve India’s largest stock brokers, including Upstox and Kite, collaborate with Smallcase. Over 3 million company customers do over $2.5 billion in transactions annually. It received a US$40 million Series C funding round in August 2021, bringing its total capital to over US$65 million.

10. CRED

Users of credit cards may pay their credit card bills through the CRED platform, and they receive rewards for each transaction. Users of the site may also utilize the app’s short-term credit lines and pay their rent for their homes.

Additionally, Cred created Rent Pay, flexible credit lines, Cred Mint, and Cred Cash, which allow lenders to lend their new cash to clients with solid credit at an interest rate of about 9% annually. Customers earn “CRED coins” after using the app to pay their bills. Then, these CRED tokens may be redeemed and used to buy any product, go to any workshop, or participate in any competition.

Wrapping Up

The fintech industry witnessed a significant shift in the 1990s due to the internet’s rapid expansion. Electronic payment methods, web-based business models, online shopping, mobile banking, and bank digitization are a few examples.

Innovation levels being produced by new Fintech businesses are higher than they were previously. They investigate different untapped business sectors outside conventional business areas.

The Indian economy, primarily dependent on finance, has benefited from the promise of Fintech during the past several years. The availability of a wide range of services with a wide range of options, including digital wallets and digital payments, is a step in the proper direction for the financial industry. Also significantly impacted by the fintech revolution are the lending and insurance sectors.

So, if you liked this list of the top 10 fintech startups in India, stay tuned!

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